This paper presents a comparative study of the geometrical optimization of mechanical wedge–barrel anchors for prestressed carbon fiber-reinforced polymer (CFRP) rods. Various anchor configurations were simulated using three-dimensional finite-element (FE) models. The FE models were validated using the draw-ins of the wedges, which were measured in static tensile tests. The configurations consisted of a steel barrel and aluminum wedges, taking advantage of the previous anchors. The conical profile of the wedge and barrel in different configurations had either a curve or a constant differential angle. In addition, a series of geometric modifications were introduced to the wedge at the loading using a fillet or cut. The stress concentration on the CFRP rod was evaluated using failure index Fs in the Tsai–Wu failure criterion for composite materials. The results of the FE simulations showed that a greater differential angle resulted in a smaller stress concentration at the loading end of the anchor and the modifications led to a reduction in the stress concentration. In addition, the anchor with a curved profile was selected as the optimal design because it had the smallest stress concentration owing to the smooth transition of the differential angle distribution along the wedge profile.