Sophia Genetics (SOPH) had the highest return in March 2023 by a small-cap US stock, returning 91.2%.

ASSET	MONTH	% RETURN
Sophia Genetics (SOPH)	March 2023	91.15%
Immuneering (IMRX)	March 2023	86.37%
Ardelyx (ARDX)	March 2023	64.6%
Enovix (ENVX)	March 2023	60.5%
Arlo Technologies (ARLO)	March 2023	59.47%
ThredUp (TDUP)	March 2023	59.12%
D-MARKET Electronic Services & Trading ADR (HEPS)	March 2023	50.56%
Crawford (CRD.A)	March 2023	49.82%
Mercurity Fintech Holding Inc ADR (MFH)	March 2023	48.48%
American Coastal Insurance (ACIC)	March 2023	48.41%
Preformed Line Products (PLPC)	March 2023	44.12%
New Found Gold (NFGC)	March 2023	42.86%
ECARX Holdings Inc Class A Ordinary shares (ECX)	March 2023	42.09%
Aquestive Therapeutics (AQST)	March 2023	40.86%
Daktronics (DAKT)	March 2023	39.66%
Crawford (CRD.B)	March 2023	38.38%
Amprius Technologies (AMPX)	March 2023	37.38%
Climb Global Solutions (CLMB)	March 2023	36.84%
Burford Capital (BUR)	March 2023	35.37%
Alvarium Tiedemann (ALTI)	March 2023	34.98%
Neurogene (NGNE)	March 2023	34.62%
Certara (CERT)	March 2023	31.89%
Maui Land & Pineapple (MLP)	March 2023	31.14%
Integral Ad Science Holding LLC (IAS)	March 2023	30.44%
Oric Pharmaceuticals (ORIC)	March 2023	29.84%

Small-cap stocks are treated as having a market cap between $300M and $2B.