<p>Although flow experience–a state of simultaneous engagement and enjoyment–is usually considered an “optimal experience,” some studies have identified its undesirable outcomes (e.g., excess gaming, gambling). Whereas flow is typically accompanied by other positive experiences, some research suggests that high engagement during flow may occur independently of perceived meaningfulness. We propose that engaging in a flow activity with different levels of meaningfulness may help account for the inconsistent findings concerning its outcomes. We compare the experience of vital engagement (high perceived engagement and meaningfulness) activities with that of low-meaning flow (high engagement but low meaningfulness) activities. Analyzing data from a 30-day longitudinal study (Study 1; <i>N</i> = 188), a 21-day diary study (Study 2; <i>N</i> = 196), and two experience sampling studies (Studies 3–4; total <i>N</i> = 109), we found that vital engagement activities (vs. low-meaning flow activities) were predominantly associated with more positive experiences, but not necessarily less negative experiences, at the activity level. The relationships between frequency of participation in vital engagement or low-meaning flow activities and personal-level well-being were also less consistent than the activity-level relationships across studies. Taken together, the findings provide partial support to the benefits of participating in vital engagement activities over low-meaning flow activities and highlight the need to consider perceived meaningfulness in everyday activities together with engagement and absorption.</p>