Filler corrects volume loss issues. Ultherapy and Facelift do not. Even a Facelift, which repositions muscle, and repositions and or removes fat and skin more than Ultherapy, as a rule, cannot help volume issues unless you add fat or other filler injections to the procedure. And in that case, I strongly recommend volume injections and lifting at the same time. The Facelift or Ultherapy needs to settle and mature; and the swelling needs to be resolved before adding volume. This helps to assure a much more accurate result from the filler....common sense. Volume deficiency is corrected with Filler. Repositioning/lifting and fat reduction/removal are accomplished with Ultherapy and Face and Neck Lifting.
I know it has been 5 years since the question I am answering was asked, but things have changed in the 5 years. Ultherapy is in more experienced hands now and now we have Juvederm Voluma, which is superb for cheek volume, much better than fat in my view. For Volume loss under the eye, along the orbital rim (the sad circle), I prefer Restylane.