Yes.....
They are variable. You do, However, have to remove the cowlings and blades (out of the water or you may lose parts) and tweek the internal pins and cam to obtain the desired pitch. It was set up to factory pitch (7dgs) and allowed me to hit hull speed at 6kts and 2000 rmp on the old A4. There are a couple of informative videos concerning MaxProp set up and installation on YouTube. As to why I'm parting w/ the MaxProp, I've installed a Indigo 3 blade fixed that seems to have reduced my 'walk' and increased my backing ability a bit. I've yet to notice an increase in hull drag, but I doubt I could tell a .5 to 1 knt change blindfolded between the 2 props. If your racin' this might just be the gig for you!