This piece is Liszt's virtuosic piano transcription of the Spinning Chorus from Wagner's Der fliegende Holländer. It is distinctive for its dramatic orchestral textures and the sophisticated layering of melodic lines within the dense piano writing.
The main challenge is balancing the thick, dramatic chordal passages while maintaining a clear melodic line over the rapid accompaniment patterns.
Comparable difficulty and character — good candidates for what to learn next.
Ballade aus Wagner's oper Der fliegende Holländer (S.441) is rated Henle level 8 of 9 — concert repertoire, roughly diploma level. In the RCM system it corresponds to about level 10.
You should be comfortable at Henle level 8 — meaning you can already play level 7–8 pieces cleanly. Learning it one level early is possible as a stretch piece, but more than that usually leads to months of frustration.
A typical performance of Ballade aus Wagner's oper Der fliegende Holländer (S.441) lasts about 8 minutes.
Ballade aus Wagner's oper Der fliegende Holländer (S.441) is available as free public-domain sheet music on IMSLP — the score is linked directly from this page.
Pieces at a comparable difficulty and character include Ballade No.1 by Franz Liszt, Bénédiction et serment, 2 motifs de Benvenuto Cellini de Hector Berlioz by Franz Liszt, Ballade aus Der fliegende Holländer, Wagner by Franz Liszt — see the full similar-pieces list on this page.