Right on. It's both.A theory isn't a conjecture based on a few pieces of evidence (we call that a hypothesis, creationists). Rather, a theory is an explanation of all of the evidence we have, supported by experimentation, independent verification, based on an initial hypothesis.
This totally depends on your definition of the word evolution. If you define it simply as the fact that species evolve over time, yes, it is a fact.But if you define it as an explanation for the development of organic life out of inorganic material, or as an explanation for the development of the human intellect, it is not a fact at all. It is rather a very weak theory.