In what ways are fats and steroids similar to each other, and in what ways are they different? Fats and steroids are both hydrophilic lipids, but fats help with metabolism while steroids provide insulation. Fats and steroids are both hydrophobic lipids, but fats serve as energy while steroids serve as hormones. Steroids contain a four-carbon ring while fats consist of glycerol and fatty acids, but both are proteins. Steroids help with transport while fats store energy, but both are proteins.