Spectral direct numerical simulations of incompressible MHD turbulence at a resolution of up to 1024(3) collocation points are presented for a statistically isotropic system as well as for a setup with an imposed strong mean magnetic field. The spectra of residual energy, E(R)k=|E(M)k - E(K)k|, and total energy, Ek=E(K)k+E(M)k, are observed to scale self-similarly in the inertial range as E(R)k approximately k(-7/3), E(k)approximately k(-5/3) (isotropic case) and E(R)(k(perpendicular) approximately k(-2)(perpendicular), E(k(perpendicular))approximately k(-3/2)(perpendicular) (anisotropic case, perpendicular to the mean field direction). A model of dynamic equilibrium between kinetic and magnetic energy, based on the corresponding evolution equations of the eddy-damped quasinormal Markovian closure approximation, explains the findings. The assumed interplay of turbulent dynamo and Alfvén effect yields E(R)k approximately kE2(k), which is confirmed by the simulations.