I had discussed this in earlier posts
InnoDB internals has a very hands-on approach to the query cache since it micromanages query cache entry invalidation. In the MySQL 4.x days, the query cache was disabled by default for the sake of InnoDB. In MySQL 5.x, it can be a toss-up. The comments from @akuzminsky show local issues center around InnoDB.
Given the fact you are using Amazon RDS, you find the following challenges
- Changing some InnoDB settings can be cumbersome
- Some InnoDB settings cannot be changed
- Tuning aspects of InnoDB has limits due to RDS
I would take away any guess work and just leave the query cache disabled. If having a bigger buffer pool size (as suggested in @akuzminsky's second comment) you will have to migrate to a larger Server Model ($$$ Cha-Ching $$$). Here are the Buffer Pool sizes for the Server Models
MODEL max_connections innodb_buffer_pool_size
--------- --------------- -----------------------
t1.micro 34 326107136 ( 311M)
m1-small 125 1179648000 ( 1125M, 1.097G)
m1-large 623 5882511360 ( 5610M, 5.479G)
m1-xlarge 1263 11922309120 (11370M, 11.103G)
m2-xlarge 1441 13605273600 (12975M, 12.671G)
m2-2xlarge 2900 27367833600 (26100M, 25.488G)
m2-4xlarge 5816 54892953600 (52350M, 51.123G)