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Similarity plays a central role in the study of perception and cognition. Previous attempts to model similarity have captured effects of either featural or structural similarity, but typically not both. We simulated both by fitting similarity data with the LISA model of relational reasoning [Hummel, J. E., & Holyoak, K. J. (1997). Distributed representations of structure: A theory of analogical access and mapping. Psychological Review, 104, 427–466, Hummel, J. E., & Holyoak, K. J. (2003a). A symbolic-connectionist theory of relational inference and generalization. Psychological Review, 110, 220–264]. The same mechanisms LISA uses to simulate analogy also provide a natural account of feature-based similarity effects (e.g., violations of symmetry), structural effects (e.g., the advantage of alignable over non-alignable differences), and the combined effects of featural and structured information (i.e., MIPs and MOPs; “Matches In …