Successful fracturing operations heavily rely on the performance of fracturing fluids (FFs), which mainly include high sand-carrying capacity (SCC) and significant drag reduction (DR). Herein, a functional copolymer, SRP-6, was synthesized by introducing a zwitterionic surfactant, 4-((3-((3-(docos-10-enamido)propyl)dimethylammonio)-2-hydroxypropyl)amino)benzenesulfonate (SVBS), during polymerization, and its structure was characterized by Fourier transform infrared and 1H nuclear magnetic resonance (NMR). SRP-6 shows superior solubility, hydrodynamic volume, and microstructure in salinity water, thanks to the hydrophilicity of multiple functional groups in the copolymer structure, and the SVBS-induced pseudointerpenetrated network as well as the uniform distribution of multiple functional monomers. Furthermore, the SVBS, as a physical crosslinker, imparts the SRP-6/SVBS solution with outstanding rheological performance, SCC, and DR. In addition, the contribution of elasticity and viscosity to SCC was calculated. These results collectively suggest that the SRP-6/SVBS solution could be potentially used as a high-performance FF for the development of tight reservoirs.