I am thinking it could be a tad slower as you are introducing an extra buffer binding to set the instance buffer. So each mesh requires 2-3 buffers to be rendered (the Vertex buffer, the Instance buffer and possibly an Index buffer) instead of only 1-2 (vb and ib).
As always though, if it helps standardise your engine and you do not experience any noticeable drawbacks then there will be no need to optimise. The only way to know is to profile these two variants of your app.