This mixed-methods study examined couples’ relationship quality, satisfaction and well-being by comparing semi-traditional, equal-sharing and role-reversed couples. Quantitative analysis involved 2813 parents (1380 men, 1433 women) with at least one child aged 11 or under who were primary caregivers, primary breadwinners or equal-sharers. Qualitative analysis drew on 60 in-depth interviews with 10 couples from each of the groups. Semi-traditional couples reported lower relationship quality and positive affect compared to other arrangements. Equal-sharers and role-reversed couples were more likely to discuss their frustrations and make conscious attempts to resolve them. Women in semi-traditional arrangements had lower levels of relationship quality and life satisfaction than women in equal-sharing and role-reversed arrangements. They were also more likely to report disagreements and frustrations. Caregiving parents also expressed lower levels of self-esteem compared to parents in breadwinning and equal-sharing roles. Our findings highlight how different breadwinning and caring responsibilities can impact parents’ well-being and relationship.