You run the CAPM regression of the excess return of iShares Silver Trust (SLV), an exchange traded fund that replicates the price of silver, on the excess return of the market

Ri.t−rf,t=αi+βi(Rm,t−rf,t)+εi,tRi.t−rf,t=αi+βi(Rm,t−rf,t)+εi,t

using 5 years of monthly data from 01/2016 to 12/2020. The intercept of the regression is 0.52% and the slope is 0.65. Over this period, the monthly volatility of SLV was σSLV=9%σSLV=9% and the monthly volatility of the market was σm=4%σm=4%.

Based on the information above, SLV exhibited positive abnormal performance on a risk-adjusted basis over this 5-year period.

True or False?