I have both, and as egordon99 says, the Pentax is a fisheye, the Sigma is rectilinear. So, it depends on what you intend to use it for. The fisheye is good for fun, distorted images. It has an almost 180 degree field of view, so you can get some pretty wide landscapes, but mountains, trees and other objects will appear bent and distorted unless you correct afterwards. The Sigma, introduces much less distortion, but has about 90 degrees field of view. The Sigma also has much less chromatic aberration (purple fringing).
Check out the reviews of both at:
Pentax Lens Tests
Mike