Begin by heating a dry skillet over medium heat. Add the dried guajillo, ancho, and optional arbol chiles, toasting them for about 2–3 minutes until fragrant. Once toasted, remove the chiles from the skillet and immediately place them in a bowl of hot water to soak for 5 minutes, which will soften them for blending.

After soaking, drain the chiles and transfer them to a high-powered blender. Add the soaking liquid and the fire-roasted diced tomatoes, blending until the mixture is completely smooth. You may need to stop and scrape down the sides. This rich, flavorful sauce will become the base of your Chili Colorado, so set it aside once it achieves a velvety consistency.

In a large Dutch oven, heat 2 tablespoons of vegetable oil over medium-high heat. Once hot, add the chuck roast, searing it on all sides for about 3–4 minutes per side until nicely browned. After browning, remove the beef from the pot and set it aside.

In the same Dutch oven, reduce the heat to medium and add the chopped onion. Sauté for about 5 minutes until softened and translucent. Next, stir in the minced garlic and continue cooking for an additional 1–2 minutes until fragrant.

Return the seared beef to the pot with the sautéed onions and garlic. Sprinkle in the beef bouillon, ground cumin, dried oregano, ground coriander, and smoked paprika. Stir in the blended sauce, unsweetened cocoa powder, sugar, cinnamon, bay leaves, and the reduced-sodium beef broth. Bring the mixture to a boil over medium-high heat.

Once boiling, reduce the heat to low and cover the Dutch oven. Let the Chili Colorado simmer for 1 to 1.5 hours, or until the beef is fork-tender. Stir occasionally, ensuring nothing sticks to the bottom of the pot.

As your Chili Colorado simmers, taste the sauce for seasoning towards the end of the cooking time. If you desire more heat, add some chili seeds or salt to enhance the flavors.