Yes, it is. Your MV is around the same as a .22 LR HV round, which has a midrange traj. of around 3" if zeroed for 100 yards. The actual drop of a bullet from the line of the bore is around twice the midrange trajectory, so if you zeroed that .22 at 50 yards, it would be between 6"-7" low at 100, just like your rifle.

If you zero it dead-on at 100 yards, it will shoot +- 3" high (or less) at 50, and be around 1" to 1.5" high at 75 yards.....

Apparent drop is about double after the bullet drops below the line of sight on its' way down, so after the bullet, zeroed at 100 yards, crosses the 100 yard mark, drop is much more dramatic!

You can flatten the trajectory somewhat by increasing the powder charge, but big imporvements produce big jumps in recoil too. No ML will ever be a .270 Win., so the best practice is to learn your trajectory well out to the distance you set as absolute maximum, and learn accurate range estimation!