Despite empirical evidence of transethnic genetic heterogeneity in diseases [24] and the fact that cross-study heterogeneity has been found to decrease the chances of a study to yield meaningful results [22, 25], a theoretical multi-study framework that quantifies the effect of cross-study heterogeneity on statistical power and predictive accuracy is still absent. We bridge this gap by developing a Meta-GWAS Accuracy and Power (MetaGAP) calculator (available at www.devlaming.eu) that accounts for the cross-study genetic correlation (CGR). This calculator infers the statistical power to detect associated SNPs and the predictive accuracy of the PGS in a meta-analysis of GWAS results from genetically and phenotypically heterogeneous studies, and quantifies the loss in power and predictive accuracy incurred by this cross-study heterogeneity. Using simulations, we show that the MetaGAP calculator is accurate under a wide range of genetic architectures, even when the assumptions of the calculator are violated.