Neuropace (NPCE) had the highest return in January 2023 by a small-cap US stock or small-cap US stock, returning 239.1%.

ASSET	MONTH	% RETURN
Neuropace (NPCE)	January 2023	239.13%
Clene (CLNNW)	January 2023	185.25%
Qilian International (BGM)	January 2023	144.32%
Yirendai (YRD)	January 2023	141.9%
Bit Digital (BTBT)	January 2023	132.26%
HIVE Blockchain Technologies (HIVE)	January 2023	132.21%
Immunome (IMNM)	January 2023	120.42%
GCM Grosvenor (GCMGW)	January 2023	118.6%
Praxis Precision Medicines (PRAX)	January 2023	118.42%
GD Culture (GDC)	January 2023	111.67%
So-Young International (SY)	January 2023	101.43%
Olema Pharmaceuticals (OLMA)	January 2023	94.76%
Quantum-Si (QSIAW)	January 2023	93.75%
Clear Channel Outdoor (CCO)	January 2023	81.9%
Lendingtree (TREE)	January 2023	81.59%
Cooper Stnd (CPS)	January 2023	79.68%
D-MARKET Electronic Services & Trading ADR (HEPS)	January 2023	74.93%
Lexinfintech (LX)	January 2023	71.13%
Savara (SVRA)	January 2023	71.05%
Standard Biotools (LAB)	January 2023	70.94%
Fulcrum Therapeutics (FULC)	January 2023	70.64%
American Coastal Insurance (ACIC)	January 2023	70.63%
CureVac (CVAC)	January 2023	70.21%
Aehr Test Systems (AEHR)	January 2023	70.19%
Janux Therapeutics (JANX)	January 2023	67.12%

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