What is the difference between a residency and a fellowship?

The terms overlap significantly and many programs use them interchangeably, but there are some practical distinctions. A residency typically refers to a time-bound stay at a specific physical location. You go there for two weeks, three months, or a year; you have studio space and often housing; you make work in that place during that time. Examples include MacDowell, Yaddo, Rijksakademie, DAAD Berlin. The defining feature is the place — the residency happens somewhere. A fellowship typically refers to a funded period of work that may or may not require relocation. You receive a stipend (and sometimes additional resources) to do specific work over a defined period. Some fellowships do require residency at a host institution; many are unrestricted, meaning you continue working from your current studio with the financial support that lets you spend more time on the work. Examples include MacArthur Fellowships, Guggenheim Fellowships, NEA Fellowships in some categories. In practice, programs often blend both. A "residency fellowship" includes a place to work and a stipend. A "research fellowship" might require some on-site engagement but otherwise lets you work from anywhere. The American Academy in Rome is a residency by location and a fellowship by funding structure. When you read a program description, ignore the label and look at the components: Does it require relocation? Does it provide a stipend? What's the time commitment? Those three questions tell you what you'll actually experience if you're accepted. The naming is mostly historical convention; the substance is in the funding and the location requirements.