Purpose: the paper studies the properties of a coaxial magnetic transmission with permanent magnets and magnetizing windings. The dependences of the efficiency on the rotation frequency and load power are revealed, as well as the dependence of the maximum torque preceding the engagement failure on the magnetizing current and the rotation frequency. Methods: experimental study on a stand by loading the drive motor through the test transmission on a generator loading on a resistor. The process of studying the stand is also described, including determining the losses in test electric machines by the method of individual losses, as well as establishing the correspondence between the frequency of the tachogenerator voltage and the rotation frequency of the drive motor. Results: it was found that the magnetic transmission is capable of operating both in the reducer mode and in the multiplier mode, while the efficiency in the reducer mode is generally higher and depends on the rotation frequency of the transmission to a greater extent than in the multiplier mode. It can also be said that the use of magnetization allows increasing the maximum torque given to the load, but reduces the efficiency due to the increase in losses in the steel. Practical significance: the results of the work can be applied in mechanical engineering when designing loaded magnetic transmissions operating in the mode of uneven loads in machine drives.