No, it fricking doesn't. Stop trying to sell this pathetic lie that chess makes you smarter, is linked to high IQ and all this other bullsh!t invented to make these dumb loners feel smart.
I do find chess to sharpen my mind, but don't think it correlates to high iq.
I think it's a mistake to think that getting smarter means getting a lot smarter. Improving your cognitive abilities does not have to be a very big improvement, a small improvement already makes you a little smarter and chess and any mental exercise help you achieve those improvements.
Magnus beat bill gates in a chess match, so whats that tell you?